Every new year, I have multiple conversations with friends about their new year’s resolutions. When we were younger, most of our resolutions were about weight loss or drinking less, but the older I get the more my friends seem to set financial goals as the new year approaches. Although our goals are changing, one thing stays the same, and that is that it is hard to keep new year’s resolutions.
One of the most common resolutions I encounter lately has to do with saving more money. Some of my friends are saving for their children’s college funds, others are looking toward retirement, and many just want a rainy day fund. To this end, some of my friends have opened savings accounts, and some of them have jars to put change in. Although both of these are good ideas, I urge my friends to take this goal a step further with budgeting software.
One of the hardest parts about saving money is that it often involves spending less. It can be really difficult to pack a lunch in lieu of eating out. It can be really difficult to give up your morning lattes. It can feel like a strain to cancel cable TV and rely on DVDs from the library. However, it becomes easier to make these sacrifices when you can see where your money is going.
With many types of budgeting software, you can look at the impact that these savings will have over a year or even over a few years. When you know–thanks to the right software–how much you will save by making a few cuts, it becomes a lot easier to make those cuts.
Most consumers find that budgeting software is an invaluable part of creating a rainy day fund. When you see that your morning lattes can be turned into a summer vacation, it becomes easier to make that choice. When you can see that canceling the cable can turn into a year of retirement or a year’s worth of college tuition, it becomes easier to live without cable TV. Regardless of your particular objectives, they will be easier to meet when you can see the potential of making small changes. Small changes have the potential to equal big dollars.
Tracking is an incredible part of budgeting software, but the other component is accountability. Most people find it easier to meet their goals when they work with a partner. The right software can be this partner for you. The right software is there in your pocket on your phone, at your work on your laptop, and at home on your PC. Your budgeting software is wherever you are, and it is constantly reminding you how important it is to save.
With the help of budgeting software, you will be able to create a rainy day fund that surpasses your expectations! Get started today building your rainy day fund with one of my favorite budgeting software solutions.